From big hacks, currency crashes, the launch of bitcoin futures and crypto discussions, it has become clear that some coins are rising in value while others are crashing.
Ripple (XRP), for example, which has been volatile since the market crashed in 2018, is currently trading at $ 021, down 37% from the start of the year. Most of the alcoholic have been in decline since spring.
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Increase Bitcoin
In early 2019, the Bitcoin was trading at just above $ 3,600. However, in April, things started to change and the coin enjoyed a strong rally, which reached nearly $ 14,000 in June.
There was no specific catalyst for bitcoin in the summer, but industry highlighted investors' increased desire for bitcoin.
In the second half of the year, the price of bitcoin began to decline and in November fell by more than 10% in just one day when during the market crash several major cryptocurrencies lost billions of their value.
However, Bitcoin is currently trading at around $ 7,000, an impressive 96% gain from the start of the year. In other words, Bitcoin has almost doubled in value in 12 months, a remarkable growth given the volatility of the market.
Main stages
Bitcoin price rises make it the best cryptocurrency of 2019, but it's not the only factor. Bitcoin has had important achievements that have helped the cryptocurrency market to develop and all cryptocurrencies in general.
In April, the 400 millionth transaction was recorded by the public blockchain of the bitcoin. In 2019, Bakkt, a Bitcoin futures platform, officially launches. Within 48 hours of its announcement, Bitcoin jumped by more than 10%.
It is hoped that the world's first bitcoin futures platform will bring liquidity to the market and help better adopt bitcoin.
It is now possible to pay for items via bitcoin in some online stores, in real estate trading and using cryptocurrency to gamble in casinos.
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Looking Ahead
Many analysts believe that Bitcoin is likely to perform well in 2020.
Peter Brand and cybersecurity entrepreneur John McAfee predict that Bitcoin may see significant growth in 2020.
According to Charles Hwang, a member of the management of the hedge fund Lightning Capital, the second half of 2020 could lead to an increase in the bitcoin price, which can range from $ 20,000 to $ 50,000.
No one really knows what will happen to the price of bitcoin in 2020, but after the relatively successful 2019, things look positive for the core cryptocurrency.
